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The Benefits of Cross-Function Team Collaboration | Accenture

Accenture outlines how a cross-function collaboration strategy allows companies to innovate, stay relevant and drive profitable growth. Read more.

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The Benefits of Cross-Function Team Collaboration | Accenture

  1. 1. Out-Collaborate The Crisis How to sustain digital transformation efforts in an economic downturn. Insights on cross-function collaboration from the Accenture Industry X.0 2020 research.
  2. 2. Copyright © 2020 Accenture. All rights reserved. 2 Try focusing on better cross- function collaboration! It’s far more effective than you might think. Striving to sustain digital transformation in the current climate?
  3. 3. Let’s be honest: Copyright © 2020 Accenture. All rights reserved. 3 We all know that even in “normal” times, a lack of cross-function collaboration increases costs, reduces returns on investment and hinders growth. And In the times of COVID-19? Inter-functional competition—especially on matters concerning digital transformation—can be disastrous. So, the question is…
  4. 4. Why aren’t we managing it better? Copyright © 2020 Accenture. All rights reserved. 4 Because the age-old siloes-issue is rearing its head again – this time, hindering digitalization efforts: 75% of executives admit: “Our business functions are competing rather than collaborating on digital projects.”
  5. 5. The cost of internal competition – Copyright © 2020 Accenture. All rights reserved. 5 cross-function competition increases cost and eats up expected revenues gains1): 5.8%actual overall increase in costs because of redundant Investments. 6.5%actual annual revenue growth versus expected growth of 11%. 64%of companies not seeing a return on their digital investments. 1) n=1,550; percentages are for the three-year period from 2017-2019.
  6. 6. Copyright © 2020 Accenture. All rights reserved. 6 Let’s meet the companies which are mastering cross- function collaboration. How can we fix this?
  7. 7. Average % gains in revenue as a result of digital transformation investments made across functions (2017-2019) … their peers in revenue gains, EBIT growth, and stock performance: Copyright © 2020 Accenture. All rights reserved. 7 Collaboration champions outperform…
  8. 8. … their peers in revenue gains, EBIT growth, and stock performance: Copyright © 2020 Accenture. All rights reserved. 8 Collaboration champions outperform… Average year-on-year growth in EBIT (2017- 2019)
  9. 9. Collaboration champions outperform… Copyright © 2020 Accenture. All rights reserved. 9 … their peers in revenue gains, EBIT growth, and stock performance – even during the height of the COVID-19 crisis: Average daily share price index (base date Jan. 1st, 2020)
  10. 10. Copyright © 2020 Accenture. All rights reserved. 10 How do the Champions do it? Simply put: They’re more likely to emphasize: 1 Clarity and a common goal. They clarify “what” digital transformation means for their organization and why everyone should collaborate. 2 Executive accountability. They hold executives accountable for tight collaboration between business functions. 3 Choosing the right bets. Champions prioritize projects that require or stimulate close collaboration between functions. 4 Platform interoperability. They invest in and scale collaborative platforms while avoiding the build-up of “siloed” solutions. 5 IT-OT convergence. They establish rules for their Information and Operating Technology, and how the two work together.
  11. 11. Copyright © 2020 Accenture. All rights reserved. 11 Which specific steps do they take? Turns out, there’s five: 1. Plan the work and work the plan (establish clarity and a common goal). 2. Find your key people and empower them (ensure executive accountability). 3. Pick projects that bring people together (choose the right bets). 4. Make sure solutions speak the same language (prioritize platform interoperability). 5. Create rules for the road (drive IT-OT convergence).
  12. 12. Be specific, prescriptive, and clear about the vision and mission for your digital transformation. Plan the work and work the plan: Copyright © 2020 Accenture. All rights reserved. 12 1 Clarity and a common goal
  13. 13. Copyright © 2020 Accenture. All rights reserved. 13 Assign ownership and responsibility around cross- function collaboration. Find your key people and empower them: 2 Executive accountability
  14. 14. Copyright © 2020 Accenture. All rights reserved. 14 Prioritize digital initiatives that stimulate cross-function collaboration. Pick projects that bring people together: 3 Choosing the right bets
  15. 15. Copyright © 2020 Accenture. All rights reserved. 15 Don’t compromise on inter- operability. Make sure solutions speak the same language: 4 Platform interoperability
  16. 16. Copyright © 2020 Accenture. All rights reserved. 16 Build smart IT-OT governance policies from the get-go. Create rules for the road: 5 IT-OT convergence
  17. 17. Copyright © 2020 Accenture. All rights reserved. 17 Conclusion: If you want to go fast, go alone. If you want to go farther, go together.
  18. 18. Get the full report … Copyright © 2020 Accenture. All rights reserved. 18 … for more data, a deeper dive into Champion best practices, and select case study examples – completely free, no registration required. accenture.com/outcollaborate
  19. 19. Copyright © 2020 Accenture. All rights reserved. 19 Nigel Stacey Industry X.0 Global Lead nigel.stacey@accenture.com Linkedin.com/in/nigel-stacey-80360236/ Raghav Narsalay Industry X.0 Global Research Lead Raghav.Narsalay@Accenture.com Twitter.com/RaghavNarsalay Aarohi Sen Principal, Thought Leadership for Industry X.0 Raghav.Narsalay@Accenture.com Twitter.com/RaghavNarsalay AboutAccenture Accenture is a leading global professional services company, providing a broad range of services in strategy and consulting, interactive, technology and operations, with digital capabilities across all of these services. We combine unmatched experience and specialized capabilities across more than 40 industries – powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. With 509,000 people serving clients in more than 120 countries, Accenture brings continuous innovation to help clients improve their performance and create lasting value across their enterprises. Visit us at www.accenture.com Authors:

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